- Consulting Editors
- Modernization and the Russian Economy: Three Hundred Years of Catching Up
- Command Economy and its Legacy
- Russia’s Economic Transformation
- Transformational Recession
- Growth Trends in Russia After 1998
- Institutional Performance
- Corporate Governance in Russia
- The Russian Tax System
- The Unofficial Economy in Russia
- Russian Corruption
- Russia’s Dependence on Resources
- The Russian Oil Sector
- The Russian Natural Gas Sector
- The Russian Electricity Market: Variants of Development
- The Economics of Mineral Resources
- The Challenge of Reforming Environmental Regulation in Russia
- Economics of the Military-Industrial Complex
- Science, High-Tech Industries, and Innovation
- Blame the Switchman? Russian Railways Restructuring After Ten Years
- Russian Agriculture and Transition
- Russian Banking as an Active Volcano
- Financial and Credit Markets
- Russian Trade and Foreign Direct Investment Policy at the Crossroads
- Economic Geography of Russia
- Russian Fiscal Federalism: Impact of Political and Fiscal (De)centralization
- Regional Challenges: the Case of Siberia
- Labor Market Adjustment: is Russia Different?
- Higher Education Reform and Access to College in Russia
- Russia’s Health Care System: Difficult Path of Reform
- Poverty and Inequality in Russia
- Recent Demographic Developments in the Russian Federation
Abstract and Keywords
This chapter examines the recent history and current state of the electricity sector in Russia. I discuss the challenges facing this sector and options for their solution. The main focus is the wholesale electricity market. I consider its present structure and architecture and examine the market power of large energy producers. I survey the literature on market power analysis for electricity markets and discuss some theoretical problems related to this analysis. I particularly consider conventional measures of competitiveness and examine their application to electricity markets. Another section contains theoretical results and the data on forward markets, as well as their impact on the efficiency of wholesale electricity markets. I describe the scenarios of development of the capacity market in Russia and examine producer behavior while taking into account energy and capacity trades. I conclude with a discussion of the problems and future prospects of Russian electricity market.
Alexander Vasin is a Professor in the Department of Operations Research at the Lomonosov Moscow State University. His research interests include game-theoretic analysis of markets and auctions, especially of the electricity sector in Russia, as well as evolutionary and repeated games.
Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.
If you have purchased a print title that contains an access token, please see the token for information about how to register your code.